UK Parties Head for Leadership Battles amid Brexit Fallout

The Labour Party headed for a leadership battle, mirroring a fight for control of the ruling Conservative Party, after the decision by voters to leave the European Union last week led to upheaval in Westminster.

Angela Eagle, a senior Labour MP, will announce on Thursday that she will challenge leader Jeremy Corbyn who has been facing a growing revolt within the party, media reports said on Wednesday.

Eagle, a former pensions Secretary, quit as Labour’s top business official on Tuesday, one of more than 20 people to resign from Corbyn’s opposition policy team.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam